Sahirah received a promissory note valued at RM8,550 for 115 days with an interest rate of 5.5% per annum. The note matured on 28th May 2014. Find: the date of the note the maturity value of the note.

Q: A loan has been made by the bank on 31st October for 60 days to Company Trading LLC. Company Trading…

A: Journal Entry: It is used to record the business transactions of an enterprises.

Q: 1. Jolo holds a P32, 000 simple inter What is the proceeds of a P6, 500 bank discount note that is…

A: A borrower, usually a government or a corporation, may issue bank discount notes, also called…

Q: Sylvestor Systems borrows $161,000 cash on May 15, 2017, by signing a 30-day, 5% note.   1. On what…

A: Promissory note is an instrument issued by the borrower to lender for the money payable after the…

Q: 1. The note has a face value of 12,500; dated April 12, 2013 that has to be paid after 5 months. The…

A: “Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: Sylvestor Systems borrows $185,000 cash on May 15 by signing a 150-day, 7%, $185,000 note. 1. On…

A: Journal: Recording of a business transactions in a chronological order.

Q: On January 7, 2005, Ming-zhu borrowed $186,547 at 11.35% simple interest. The note that he signed…

A: maturity value=P×1+rt where, r= rate of interest t=time in years

Q: At the end of 2020, the interest over this three-year period at Andover Bank is $ 2211.68. (Enter…

A: Interest Rate: It is the rate at which a loan is charged or the rate at which interest is earned on…

Q: A promissory note with a face value of $12,300 is written on February 22, 2015 and is due on June…

A: 1) Compound interest =P(1 + r/n) (nt) Here p= 12300 R=11.5% N=7.25 yrs             Compound interest…

Q: anice Dart signed a 140-day simple discount note at a rate of 9.9% with a maturity value of $82,000.…

A: calculation of Discount on original Note = Maturity value x Interest rate x (No.of days/365) =…

Q: accrued interest expense o

A: It is pertinent to note that under accrual concept of accounting transactions are recorded and when…

Q: On January 7, 2021, Dang Company discounted its own P100,000, 180 day note at the Bank of the…

A: The effective annual rate (also known as the annual percentage rate) refers to the interest rate…

Q: Roni Lockard signed a $26,500 simple discount promissory note at a certain bank. The discount rate…

A: Discount note: Selling the note with discount value which means less than the face value.

Q: China Bank granted a loan to a borrower on January 1, 2023. The interest rate on the loan is 10%…

A: To calculate the effective interest rate (EIR) of the loan, use the formula for the EIR of a loan.…

Q: nando issued a promissory note on July 29, 2019 to Metrobank amounting to Php 160,000 with interest…

A: Promissory Notes is a written negotiable instrument wherein a person is promised to pay a fixed sum…

Q: amount of interest income corresponding to the current period

A: Interest income = Amount of deposit * Annual interest rate * Number of months till maturity/Number…

Q: Rice Inc. issued a 120-day note in the amount of $150,000 on October 31, 2013 with an annual rate of…

A: NOTES PAYABLENotes payable are reported under the liabilities section of the balance sheet. Notes…

Q: Assume that on 15th January 2019 Mustafa and Sons LLC sold OMR 15000 goods to Ibri traders on…

A: The maturity value is the amount to be paid at the time of maturity of note note receivable by the…

Q: erry signed a $5000 , 75 day, 15% ordinary simple interest note on March 14. He made a partial…

A: The question is based on the concept for calculation of simple interest rate at different time…

Q: On January 1, 2020, MP's customer issued a 3 year 8% note, PHP 3,000,000 for services billed to be…

A: Carrying amount: It is the original cost of the asset that is reflected or shown in the balance…

Q: Item 1 - The note receivable is due in installments of RM50,000, payable on each 30 June annually.…

A: Disclosure note is note which is written regarding to make more information available to the users…

Q: 22- On 01.10.2019, the enterprise opened a time deposit account at Ziraat Bank with a maturity of 9…

A: Interest means the income earned on the amount invested by investor.  Even if the interest is not…

Q: essica Harrison Corporation accepted a $16,000 note on Aug. 12. Terms of the note were 13% for 100…

A: Proceeds from discounting a bill are the amount the payee (holder of bill or note) will receive from…

Q: Maju Enterprise opened a fixed deposit account with Singa Bank Bhd on 1 March. The initial deposit…

A: Journal Entries - Journal Entries are the recording of transactions of the organization. It is…

Q: ook Inc. accepts on April 1, 2022 a 120-day 12% note for $8,000 worth of accounts receivable past…

A: At maturity, notes are often utilized in a variety of financial transactions, including loans,…

Q: 14.On August 31, 2014, Rognak Company discounted with recourse a customer's note at its bank at…

A: Loans are the amounts that are borrowed by individual from bank or from any other party. Interest…

Q: Connie put $7,525 into a term deposit on March 10th. The deposit earns a simple interest rate of 5%.…

A: Deposit amount = $7,525 Period from march 10th to july 4 = 116 days Interest rate = 5%

Q: ABC signed a 5-year, 9% note payable for $80,000 on May 1, 2012. Which account will be credited when…

A: Journal entry for Note Payable   1.Interest expense will be debited to book current years interest…

Q: In connection with this note, how much Jane Co. would pay at March 31, 2019?

A: Given information is: Jane's Donut Co. borrowed OMR 50,000 on March 1, 2018, and signed a one-year…

Q: A note that is dated January 1st with a face value of P5000 comes due on March 15th with interest at…

A: Formula: Interest amount = Face value of bond x Interest rate x Time period.

Q: Aina received a 180-day promissory note worth RM4500 at 8.5% simple interest on 14th August 2015…

A: Aina received the note on 14th Aug 2015 and she sold to a bank on 24th Nov 2015. Note original term…

Q: Akbar Associates issued 120-day note for $50,000 to a creditor on a account. The note was discounted…

A: Cash Proceeds from Notes Receivable = Present Value of Notes

Q: Q.Mr. Jasim receives a note for $60,000 which is due in 180 days with simple interest rate of 15%.…

A: Amount of note= $60,000 Time to maturity= 180 days Discount rate= 12% Discount charges:…

Q: A note that is dated January 1st with a face value of P5000 comes due on the owner of the note sells…

A: Discount in credit terms is a method utilized to understand receivables for deal with cash flow…

Q: On 22 march 2016, Ali received a 90-day promissory note with simple interest rate of 7% per annum.…

A: Date of drawn 22.03.2016 Duration 90 days Maturity date 20.06.2016

Q: The maturity value of the note. b- The due date of the note TRADE DISCOUNT

A: